Proficio Capital Partners LLC Purchases New Shares in Okta, Inc. (NASDAQ:OKTA)

Proficio Capital Partners LLC acquired a new position in Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 62,477 shares of the company’s stock, valued at approximately $4,923,000.

Other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Okta in the third quarter valued at approximately $25,000. Bank of Jackson Hole Trust bought a new position in Okta during the 4th quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in Okta in the 3rd quarter valued at $32,000. Modus Advisors LLC bought a new stake in shares of Okta during the 4th quarter valued at $44,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Okta during the 4th quarter worth $44,000. Institutional investors own 86.64% of the company’s stock.

Insider Transactions at Okta

In related news, CEO Todd Mckinnon sold 233,028 shares of Okta stock in a transaction on Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the sale, the insider now directly owns 24,462 shares in the company, valued at $1,969,191. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 849,482 shares of company stock worth $74,422,216. Company insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on OKTA. Robert W. Baird boosted their price target on Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft cut shares of Okta from a “buy” rating to a “hold” rating and dropped their target price for the company from $115.00 to $85.00 in a research report on Tuesday, November 12th. Barclays increased their price target on shares of Okta from $96.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. JMP Securities reissued a “market perform” rating on shares of Okta in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus upped their target price on Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $105.67.

Okta Price Performance

Okta stock opened at $87.16 on Tuesday. The firm has a market cap of $14.94 billion, a P/E ratio of -249.03, a P/E/G ratio of 6.42 and a beta of 1.03. The stock’s 50 day moving average is $89.37 and its 200 day moving average is $82.38. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.